Viaspace, Inc. (VSPC)

[Hystart]

Not sure he planned on "stealing" but he is just a very bad business person. He wanted to believed in GKG and did a great job of selling it to a LOT of people who also wanted to believe. He and the rest of the company took the money and did not use it wisely! The use of GKG NEVER pasted the spreadsheet test because management had no idea of who to sell it to? The groups they hooked up with were just as big of dreamers as was VSPC. All did not properly vet the concept. I am not personally sure how much Carl took in terms of compensation and perks from the company, but VSPC burned through 55 million dollars???? Where did it go? What assets did they buy with that money? How much did each person in management put in their pocket?

The bottom line is that VSPC was a very bad investment for everyone except company management. The company Bplan failed, the company management failed to make course correction when the GKG did not sell. They failed to properly vet potential project partners and they put out PR that was close to fiction, in fact some of it was PURE Fiction!

Did they cheat the shareholders? Maybe, maybe not. It is possible that they were just really BAD business people and it could be a combination of both.